Short Takes: Keyport Annuity Has Optional Guarantees

Keyport Life Insurance Co. of Boston has introduced a variable annuity targeting conservative investors.

Keyport Advisor Charter, which was introduced last week, lets investors choose an optional guarantee of a 6% annual return on contributions or the highest account value on any contract anniversary. An optional death benefit guarantees that beneficiaries would get the same 6% annual return or highest account value.

Investors can pay an extra 35 basis points for the income benefit and a 10-basis-point premium for the death benefit. Bought together, they cost 40 basis points in addition to the product's 140-basis-point insurance fee.